Start-up’s prized goal is to capture the continent
A YOUNG South African start-up is focusing its attention on the rest of the continent to conquer the financial services industry.
Johannesburg-based TMMBS Accountants says it is following in the footsteps of the legendary SizweNtsalubaGobodo to offer payroll services, accounting, bookkeeping and financial reporting, taxation advisory, secretarial services, and BEE advisory/certificates.
Its founder, 26-year-old Tshepo Mosiedi, says as they continue to make their mark in the local market, their prized goal is to capture the continent.
Mosiedi says the company’s vision is Pan-Africanist and is aimed, among other things, at uplifting other black academics.
“Our Pan-African vision is about us becoming the biggest accounting firm in Africa and then the world,” Mosiedi says.
“Our plan is to branch into the SADC region, that’s our five-year goal,” he says.
“We want to be in Botswana, Zimbabwe, Zambia, etc. We want to partner with other black accounting firms in those countries.”
He says he went into the business because he believes that Africans need to start their own empires to liberate themselves.
TMMBS started in Johannesburg’s western township of Kagiso before moving to Krugersdorp. Currently, it is headquartered in Africa’s richest square mile of Sandton.
“We are here in Sandton to compete and not open a small practice. The Sandton move is for big businesses,” says Mosiedi.
He says they are keeping the Kagiso office open because their services are very popular in the township.
“We don’t want to neglect the SMEs in the townships,” says Mosiedi, who started his first business at the of age of 16, washing garbage bins for his neighbours in the township.
Since then, he’s worked for MM Accounting Services as a junior bookkeeper for a year in 2010, followed by a stint at a reputable construction company turning over R80 million a year.
Mosiedi, who holds a national diploma in accounting from the University of Johannesburg (UJ), says they also provide mentorship to students with the sole purpose of absorbing them into the company fold.
He says some of their interns have become business movers and shakers in their own capacities.
“We have Luyanda Duma, who is studying BCom in industrial psychology at UJ. She’s doing her last year, we’ve employed her as a business strategist. Most projects that we have to pitch to government
Our Pan-African vision is about us becoming the biggest accounting firm in Africa and then the world.
will be handled by her,” he says.
The company is also mentoring UJ second year marketing student Moshe Ndlovu to become their marketing manager when he finishes his studies.
“We are pushing the young ones because part of our Pan-African vision is to uplift other black academics. For us to rise, conquer and be liberated, we need to uplift each other,” says Mosiedi.
“Young black Africans need to start their own businesses, there are lots of graduates but few companies employing them. We must start building our own African empires.”
The young entrepreneur, who is a member of the South African Institute of Tax Professionals, is currently studying towards an advanced diploma in accounting sciences at Unisa.
He says one of his proudest moments was being crowned as Kagiso’s Young Entrepreneur of the Year at the first Kagiso Achievers Awards in 2017.
Running the business has been a rollercoaster ride for Mosiedi.
“There’ve been ups and downs but it’s been a nice process and journey. I’ve learnt a lot because everything we’ve done has been self-funded, we’ve faced many budget constraints.”